Northern Trust Co. (NASDAQ:NTRS) Position Cut by Confluence Investment Management LLC

Confluence Investment Management LLC decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,149,397 shares of the asset manager’s stock after selling 8,197 shares during the quarter. Northern Trust comprises about 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 24th largest holding. Confluence Investment Management LLC’s holdings in Northern Trust were worth $103,480,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NTRS. Olistico Wealth LLC acquired a new stake in Northern Trust in the 2nd quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of Northern Trust during the second quarter valued at $30,000. Versant Capital Management Inc increased its holdings in shares of Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the third quarter valued at about $39,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Down 1.2 %

Shares of NASDAQ NTRS opened at $105.25 on Friday. The business has a fifty day simple moving average of $93.34 and a 200-day simple moving average of $87.79. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.17 and a beta of 1.06. Northern Trust Co. has a 12 month low of $68.97 and a 12 month high of $108.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Transactions at Northern Trust

In related news, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,906 shares of company stock valued at $7,647,652 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Evercore ISI raised their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Bank of America lifted their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.33.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.